Subway announced that it is selling itseIf to Roark Capital, a private equity firm whose two holding companies already own an impressive collection of fast-food chains. Roark-owned brands include Dunkin’, Carvel, Jimmy John’s, Arby’s, Cinnabon, and Buffalo Wild Wings–and that’s just a partiaI list.
Subway is owned by the families of Fred DeLuca and Peter Buck, who founded the chain in 1965. At the time, Buck was 34. DeLuca was 17 and trying to raise money for college. Buck Ient him $1,000 and suggested they start a sandwich shop.
DeLuca passed away in 2015 and Buck di ed in 2021, but Subway remained a family owned business until now. It must have been a wrenching decision to give up ownership of the chain. But however they may feel about it, the families seem to have negotiated the best possibIe deal for the chain. Every business owner looking to sell can learn from their approach.
Our story begins back in February, when the families hired JPMorgan Chase as an adviser to explore a sale. At the time, the families reportedIy wanted $10 billion for one of the world’s two largest fast-food chains.
But it’s been a bad year for acquisitions so far, and some observers noted that the chain has been losing ground to newer rivaIs such as Firehouse Subs in recent years. With its shares of U.S. sandwich sales down from 34 percent in 2017 to 23 percent today, some questioned whether Subway was really worth $10 billion.
RIDDLE: What Is Missing?
By enhancing memory, concentration, logical reasoning, and problem-solving ability, solving riddles improves cognitive capacities.
It encourages creative problem-solving by fostering lateral thinking. Emotionally, solving riddles calm down, make you more patient, and give you more self-assurance. They are an excellent exercise for cerebral stimulation and general well-being because they offer amusement and a pleasant method to occupy the mind.
Those who solve riddles on a daily basis might reap these advantages, which promote mental development and emotional fortitude.
Look at the puzzle below:
Are you able to determine the solution?
Look over the answer below:
The missing number in this case could be thought of as the gears in a normal manual gearbox arrangement. Considering that manual transmissions frequently have a configuration similar to this:
R stands for reverse.
1. (Primary gear)
Third gear: 2 (second gear)
Fourth gear: 4; Fifth gear: 5.
We are missing the reverse gear position, which is normally labeled as “R,” and the locations line up with gears where the missing number follows this pattern.
Therefore, taking into account the order and the concept of a manual transmission, R stands for Reverse and is the “gear” that is lacking.
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